Whiff Candles estimated overhead costs at the start of 2020 to be $3,600,000 for the year. In 2020, Whiff planned for and produced 1,800,000 candles with variable manufacturing costs of $0.25 per candle and total actual fixed overhead costs of $3,200,000. They sold 1,550,000 candles for $5 each during the year. Fixed selling and admin costs for 2020 totaled $456,000 Instructions Prepare absorption-costing income statement and Variable Costing Income Statement

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?